Sunday, February 26, 2012

News Links, February 27, 2012

## Global Ponzi meltdown/House of Cards ##Germans overwhelmingly oppose Greek bailout: poll"Germans overwhelmingly oppose further aid for Greece, according to opinion poll released on Sunday, one day ahead of a vote in parliament on a new Greek bailout package where Chancellor Angela Merkel may be forced to rely on opposition support."

There isn't enough money in the world to stave off the debt crisis. -- RF

Europe's falling economy hits Big Pharma"The problems within the Eurozone have led to national governments spending less on healthcare. This has impacted upon the profits of the major pharmaceutical companies who have seen a decline in their share prices as a result."

A "recovery" was never in the cards. And "recession" is morphing into depression. Get ready. -- RF

Iran says has not refused oil to Greece: ISNA"Iran said Sunday it had not blocked an oil shipment to Greece, denying earlier reports it had done so in retaliation to the EU phasing in a ban on its key export, the Iranian Student's News Agency (ISNA) reported."

"One of the great cliches of war-craft is that the enemy of my enemy is my friend. This expression comes to mind in considering the plausibility of a claim made in my recent conversation with a weapons dealer. He thinks that this June, Israel will use Saudi Arabia as its base for an attack on Iran's suspected nuclear site."

"The looming closure of three Australian refineries will affect the security of liquid fuel supplies in Australia. This is particularly so if the government and the oil industry do not devise a joint strategy with which to respond to potential supply disruptions."

Government considers fuel rationing or pricing formula (Sri Lanka)"The Government is considering the introduction of fuel rationing or a fuel pricing formula in the face of skyrocketing oil prices while steps are being taken to cut energy consumption in state institutions, Finance Ministry and other official sources said."U.S. did not call for strategic oil release: G20 sources"The United States did not openly call for a release of countries' strategic oil reserves during Group of 20 meetings this weekend, Group of 20 sources said on Saturday."

Greek farmers offload crops at cost price"Hammered by the financial crisis that has led to ever diminishing income, a group of residents in northern Greece have joined forces with potato farmers to slash consumer prices and ensure producers can get their crop to markets by cutting out the middle man."

"Japanese media outlets are reporting around 11 pm Sunday night, TEPCO's Kashiwazaki-Kariwa nuclear power plant's fire alarms activated, and smoke was seen rising from the Unit 5 area. According to TEPCO, external radiation monitors have not detected any increase of radiation dose around the station from a leak of radioactive materials."

Japan Poised To Boost IMF Support Once Europe Acts"Japan is keen to begin detailed talks on boosting the International Monetary Fund's resources to help cope with the global financial crisis, the country's finance minister said Saturday, but he stressed that Europe must first take action to bring its debt crisis to an end."

AIJ submitted false reports 'for several years'"An investment advisory firm that lost 200 billion yen of corporate pension funds it was entrusted to manage has told the Securities and Exchange Surveillance Commission that it submitted false reports to the Kanto Local Finance Bureau for several years."Firms move to secure fish at home, abroad"Amid growing global demand for marine products, major Japanese trading companies are accelerating investments at home and abroad to secure a stable supply of such fish as salmon and tuna."

Wyoming House advances doomsday bill"State representatives on Friday advanced legislation to launch a study into what Wyoming should do in the event of a complete economic or political collapse in the United States."